otra informaciÓn relevante plÁsticos ......2020/05/13 · masterbatch market4: - global market of...

OTRA INFORMACIÓN RELEVANTE

PLÁSTICOS COMPUESTOS, S.A.

13 de mayo de 2020

En virtud de lo previsto en el artículo 17 del Reglamento (UE) nº 596/2014 sobre abuso de

mercado y en el artículo 227 del texto refundido de la Ley del Mercado de Valores, aprobado por

el Real Decreto Legislativo 4/2015, de 23 de octubre, y disposiciones concordantes, así como en

la Circular 6/2018 del Mercado Alternativo Bursátil (MAB), Plásticos Compuestos, S.A.

(“Kompuestos” o la “Sociedad”) pone en su conocimiento la siguiente información:

Kompuestos participará en el Discovery Meeting del día 27 de mayo de 2020 del Foro MedCap

2020 organizado por BME (www.foromedcap.es) celebrándose una presentación a las 10:00

horas. Se adjunta la presentación corporativa de Kompuestos que se remitirá a los medios de

comunicación en relación con la cobertura del Foro MedCap 2020 y la participación de

Kompuestos en el mismo.

Quedamos a su disposición para cuantas aclaraciones consideren oportunas.

En Palau-Solità i Plegamans (Barcelona), a 13 de mayo de 2020.

Corporation Chimique International S.P.R.L.

P.p. D. Ignacio Duch Tuesta

Presidente del Consejo de Administración

http://www.foromedcap.es/

KOMPUESTOSTM

"At Kompuestos we are committed to offer sustainable solutions! We have a long track record in reducing plastic’s CO2 footprint and we are leaders in biodegradable plastics”

THE CIRCULAR ECONOMY OF PLASTICS

02.

Kompuestos today

WWW.KOMPUESTOS.COM

+40countries

+750clients

2production plants

+70employees

Nominal cpacity (mT)

Kompuestos currently operates

2 production sites in Palau Solita i

Plegamans industrial park close to

Barcelona, Spain.

One of the leading international suppliers of high performance sustainable compounds and masterbatches;

used as raw materials in multiple industries all around the globe.

This document contains proprietary information which shall not be used and disclosed without Kompuestos explicit written authorization.

Kompuestos is one of the first compounding producers in Europe.

+220,000

03. WWW.KOMPUESTOS.COMThis document contains proprietary information which shall not be used and disclosed without Kompuestos explicit written authorization.

Introducing masterbatch

Raw materialpolymers

Raw materialpolymers

Additives,Pigments,Minerals

Masterbatches

Masterbatch Finished products


History

Foundation of Plásticos Compuestos SA

Development of infrared masterbatchesfor greenhouses

Black- and white batches

Joint Venture with

1990 2000 2008 2018 20191986

First independent Spanish producer of polymers with minerals Talc and CaCO3 as additive masterbatches for anti-fibrillation in PP.

Paper-like batches

Talc-compounds for the appliance and automotive industry

Moisture scavenger and extension of additive-concentrates range

Production of the first breathable film masterbatch in Europe using CaCO3

New investors; Caixa Capital Risk, Institut Català de Finances

Development of flushing technology for plastic coloration

First compatibilizers for polymer blending

New Branding of KompuestosCreation of biopolymers unit Biokomp®

New capital increase of €5 million

IPO of Kompuestos on the MAB

Divestment of private equity funds: Caixa Capital Risk, Institut Català de Finances

New nominal production capacity is added up to 220,510 mT

80% CaCO3 batches for ultrafine film

High loading of extra fine minerals in polymer

International business incomes>50% total revenue

Color-batches & single pigment concentrates

Product portfolio

05. WWW.KOMPUESTOS.COM

Color Masterbatches

Life and functionality for plastic

Today kompuestos’s product porfolio is divided into six major groups

Black Masterbatches White Masterbatches

Depth and performance Purity and easy dispersion

Additive Masterbatches

Broad functionality for plastic


Compostable Resins Mineral Masterbatches

Green Solutions High-performance mineral concentrates

Market diversification


AgricultureGreenhouses, Plastic Reservoirs, Pipes

PackagingBags, Films, Boxes, Palets

Housewares & AppliancesCutlery, Films, Tuppers

Healthcare & HygieneDypers, Toothbrush, Bottles

AutomotiveEngine pieces, Bumper, Airbags, Seatbelts

Construction & UrbanismNets, Helmets, Pipes, Cones

Toys, Sports & GoodsLego, Football, Chessboard, Cards

Furniture & GardenFlower Pots, Hose, Chairs, Sprinkler

70%of our products are exported

all over the world.

Kompuestos in the world


Geographic diversification


Biokomp® Exfill®Compostable resins High-performance mineral concentrates

Kompuestos’ green solutions

Single use plastic


The issue

Identifying the source& possible solutions

Compromise

- Biodegradable & compostablesolution- Recycling

+

+R&D

EU Directive: UE 2015/70Spanish Royal Decree 293/2018

Raising Awareness The Solution


The green plastic revolution

Biokomp®

Compostable resins

Okean®

Biodegradable in water

11.

Agricultural

Food Service & Catering

Flexible packaging

Biokomp®

This document contains proprietary information which shall not be used and disclosed without Kompuestos explicit written authorization.WWW.KOMPUESTOS.COM

Biokomp® is a family of biodegradable resins made from different starches such as corn, potato, cereals, and other biologically sourced polymers.Our resins are designed to run on existing standard industrial equipment, offering the opportunity to completely replace traditional plastics. Biokomp® resins can be processed by conventional extrusion, cast film, blown, sheet, extrusion coating, and injection molding lines without the need of further technological investments.

Biokomp® is completely biodegradable and compostable.

12.This document contains proprietary information which shall not be used and disclosed without Kompuestos explicit written authorization.

WWW.KOMPUESTOS.COM

Standard polymers such as; PE, PP, PS, .., can be used for multiple applications regardless of the final product due to its outstanding and long term mechanical features.Bioplastics, however, require specific formulation for each individual application. The overengineering of conventional polymers changes to specific tailor made solutions for each application.

At Kompuestos we have been formulating our own products since day one, thus we count with over 30 years of experience in formulating customized products for our clients.

The green plastic revolution at Kompuestos


IND

USTRIALCOMPOST

SOIL

FRESH

WATER

MA

RIN

E

HO

ME

COMPOST

biokomp® okean®

21 C023 C025 C058 C0

Ind

ustrial com

postab

ility

Hom

e comp

ostability

Soil biod

egrad

ability

OK

biod

egrad

able W

ATE

R

OK

biod

egrad

able M

AR

INE


Kompuestos has obtained 7 new certificates in last 6 months.

Kompuestos holds 14 Biokomp certified as OK compost of which 8 are also certified as OK HOME Compost. Kompuestos

also holds 3 OK WATER certificates.


Exfill® products can go as high as 70% of the final plastic packaging, which significantly helps in reducing the content of petroleum-derived polymers while maintaining and enhancing the mechanical properties of the packaging.

Using calcium carbonate significantly reduces the carbon footprint of the final packaging.

Exfill®

Excellence in mineral based concentrates

16STANDARD GRADES

CaCO3 & TalcPE, PP & PS


Our mineral concentrates are completely recyclable and naturally engineered to reduce the use of petrochemical-based products.


Why Exfill®

High-performance mineral based concentrates

Using mineral fillers helps minimize the carbon footprint of finished products.

As this product is used, you add ecological value to plastic by increasing productivity and lowering energy consumption.


5-70%**Depending on final application

Dosage

Increase Recycling Efforts

Compostable Solutions

Circular economyKompuestos’ Compromise with Ellen MacArthur Foundation


40% dumps

32% is lost

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14% Incinerated and some energy is recovered

78MT(Annual Global Production)

98%Raw material

4% is lost in the process

8% Recycled (phase II)1

2% complete recycling cycle2

5-70%*1 Phase II: Recycled at lower quality divisions2 Recycled at acquality standards

- To increase the percentage of raw materials from recycling from the current 1.17% to 20%.

- To increase the use of compostable and renewable products from 0% to 20%.

- Increase the production of low carbon footprint mineral fillers (Exfill) from the current 61% to 70%.

- Reduce the percentage of production destined to single-use plastics from 80% to 30%.

- Increase the portfolio of sustainable solutions from 20% to 70% of the total.

- Establish a sustainable product portfolio with 70% low carbon footprint products, 20% reusable products and 20% compostable products.


Kompuestos is part of the Ellen MacArthur Foundation

Kompuestos is part of the Global Commitment to the New Economy of Plastics to reduce waste and pollution generated by plastics at the source, supporting the circular economy of plastics, promoted by the Ellen MacArthur Foundation in collaboration with the United Nations Environmental Programme (UN Environment).

Kompuestos was one of the first Spanish companies to sign up to the commitment. The specific commitments adopted by Kompuestos are as follows:


The plastics market is huge and growing

Plastics global market¹:- USD 553 billion in 2017.- Estimated annual growth rate of 4% in 2017-2025 (USD 721 billion in 2025).

Fillers market²:- Production of 20 million tons in 2016; 25 million tons in 2024 (annual growth rate of 2,5%).- Volume growth limited by the need to obtain raw materials and the limitations to the opening of new quarries.- Significant growth in demand due to the replacement of polymer to reduce the use of hydrocarbons in the manufacture of plastics ac(being also cheaper).- According to Kompuestos’ management estimates, the Company has a market share in Europe of around 10%³ in its activity segment.

Masterbatch market4:- Global market of USD 9 billion in 2016.- Estimated annual growth rate of 6.6% in 2017-2025 (USD 16 billion in 2025).- Color masterbatch segment will have a higher growth rate than the rest (7.1% vs 6.6%).

¹ Source: “Plastics Market Size, Share & Trends Analysis Report by Product (PE, PP, PU, PVC, PET, Polystyrene, ABS, PBT, PPO, Epoxy Polymers, LCP, PC, Polyamide), by Application, and Segment Forecasts, 2019 – 2025”. Grand View Research, January 2019

² Source: “Fillers market report, 5th edition”. Ceresana, February 20183 Management estimates based on a market size of European market of around 350.000 tons4 Source: “Masterbatch Market Analysis, By Type, By Carrier Polymer (PP, PE, PVC, PET), By End Use (Packaging, Construction, Consumer Goods, Automotive, Agriculture), By Region, And Segment Forecasts, 2018 – 2025”. Grand View Research, October 2017


There is a big opportunity to boost the growth of Kompuestos’ green solutions

Plastics are considered, together with climate change, as one of the main problems that affect nature:

- It is estimated that of the 335 million tons of plastic produced a year globally, 8 million tons end at sea.- The production of traditional plastics accelerates the consumption of scarce non-renewable

resources and with a high carbon footprint (oil, coal, gas).- Greenpeace calculates that at the current rate, plastic production will quadruple in 2050.

Authorities are making progress in enforcing regulations that reduce the ecological impact of plastics:

- Restriction on single-use plastic bags (2015).- Prohibition by the European Parliament of disposable plastics from 2021.- Reduction of 25% of the consumption of plastic containers for food in the EU.- Objective of plastic bottles recycling of 90% for 2025 in the EU.


Kompuestos’ management team is led by professionals with valuable experience in the industry

Ignacio Duch

Chairman

- Degree in Industrial Engineering from UPC, MBA from IESE- Previous positions: ITW- Founder of Kompuestos

David Villaró

General Manager

- Degree in Chemical Engineering from UPC, MBA from IESE- Previous positions: Caixa Capital Risc, Arthur D. Little, Accenture, Solvay- Joined Kompuestos in 2016

Ignacio Tauste

Production Director

- Degree in Chemical Engineering from UPC, Executive Master in Operations from ESADE- Joined Kompuestos in 2010

Núria Matellán

CFO

- Degree in Economics from Valladolid University- Previous positions: Deloitte- Joined Kompuestos in 2011

Carlos Tarragona

Sales Director

- Degree in Communications and Economics from University of Barcelona, Executive MBA from IESE- Joined Kompuestos in 2012

Gregory Coué

R&D Director

- PhD Biomedical Chemistry Twente University, MSc in Merial Science Univ. Bordeux- Previous positions: Henkel- Joined Kompuestos in 2015


Revenues are growing rapidly as additional capacity is being used

Total Revenues Capacity Increase

24,198 25,053

28,543

36,577

41,386

46,286

2014 2015 2016 2017 2018 2019

Values in thousands of euros

0

50

100

150

200

250

2014 2015 2016 2017 2018 2019 2020

Values in thousands of mT

104 104 104

170 170

220 220

Revenues are growing rapidly as additional capacity is being usedAround 80% of Kompuestos’ total revenues come from products released in the last 5 years

Revenues breakdown by product category Revenues breakdown by geography


Note: Revenues breakdown based on 2019 data.

¹ Includes mineral, white and black masterbatches.

² Includes additives and color masterbatches and bio.

82%

15%3%

Mass production1 Specialities2 Others

32%

21%12%

8%

27%

Spain Germany France Netherlands Others

Historical P&L and balance sheet


In '000 € 2016 2017 2018 2019

Total revenues 28,542.7 36,577.2 41,386.1 46,286.2% growth 13.9% 28.1% 13.1% 11.8%

Cost of goods sold (19,059.9) (26,545.3) (29,447.0) (32,252.9)

Gross margin 9,482.8 10,031.9 11,939.0 14,033.4% margin 33.2% 27.4% 28.8% 30.3%

Personnel expenses (2,906.3) (3,464.0) (3,346.3) (3,702.8)Other operating expenses (5,268.2) (5,837.9) (6,088.3) (8,244.4)

Works related to own assets 453.3 1.387.2 1,243.0 1,629.0Grants - 279,5 269,5 -

Normalized EBITDA 1,761.6 2,396.6 4,017.0 3,715.1% margin 6.2% 6.6% 9.7% 8.0%

D&A (1,135.2) (1,736.6) (2,327.7) (1,835.0)Non current expenses 51.3 11.9 (264.2) (480.9)

EBIT 677.8 671.9 1,425.1 1,399.3% margin 2.4% 1.8% 3.4% 3.0%

Financial result (508.5) (537.1) (832.8) (1,115.0)

Profit before tax 169.3 134.8 592.3 284.2% margin 0.6% 0.4% 1.4% 0.6%

In '000 € 2016 2017 2018 2019

Non-current assets 18,115.1 19,573.3 21,063.5 25,158.5

Inventories 7,998.7 5,352.3 6,675.6 7,073.0Trade receivables 3,887.5 5,468.3 5,791.5 4,330.9Other current assets 266.5 281.9 205.3 643.7Operating cash & equivalents 134.8 274.6 2,184.9 1,074.0Current assets 12,287.5 11,377.0 14,857.2 13,121.6

Total assets 30,402.6 30,950.3 35,920.8 38,280.1

Shareholders' equity 10,332.7 10,086.5 12,156.4 16,907.1

Long-term financial debt 6,399.2 6,164.9 7,666.9 8,827.1Other long-term liabilities 344.8 212.7 149.8 195.9Non-current liabilities 6,744.0 6,377.6 7,816.6 9,022.9

Short-term financial debt 6,227.8 8,846.3 8,544.9 4,115.1Trade payables 6,592.5 5,322.6 7,099.9 7,750.4Other payables 505.6 317.4 302.9 484.6Current liabilities 13,325.9 14,486.3 15,947.7 12,350.1

Total liabilities & shareh. equity 30,402.6 30,950.3 35,920.8 38,280.1

Debt Evolution

WWW.KOMPUESTOS.COMThis document contains proprietary information which shall not be used and disclosed without Kompuestos explicit written authorization.

24.

10,782

7,700

12,627

15,011

16,212

12,942

2014 2015 2018 20192016 2017

Values in thousands of Euros

COVID-19 measures


25.

Kompuestos has implemented a security protocol to maintain production activity while ensuring the safety of its employees.

Kompuestos is a fundamental supplier of raw materials for the plastic packaging industry for the food and hygiene sector. Thus Kompuestos’ activity has not been paralyzed by the declaration of the State of Alarm established by RD 463/2020, of March 14, 2020, nor in its subsequent revisions. As a result, Kompuestos' production activity has remained operational and has continued to supply product to manufacturers of essential products.

Likewise, Kompuestos has implemented a safety protocol for all its employees, which includes, when possible, working from home and separating groups assigned to production and limiting access to production plants. Thanks to the digital transformation process which the Company has implemented, Kompuestos has the capacity to guarantee the continuity of its operations.

Kompuestos has reached an agreement with the representatives of the Company’s employees in order to have a high degree of flexibility in the face of the current environment of uncertainty. This agreement is a preventive measure that provides different scenarios which will allow Kompuestos to adapt and take action in a progressive manner in the event that the situations worsens.

For the time being, the two production plants are isolated from each other and both are 100% operational.

First Results for 2020 (January - April)


26.

During March and April, Kompuestos has been operating normally, even though COVID-19 outbreak has delayed new marketing initiatives.

The accumulated revenues up to April amount to 16,088 thousand euros, an increase of 1.27% compared to the same period in 2019.

With respect to mT, the accumulated volume up to April amounts to 20,151 mT, an increase of 4.5% with respect to the same period in 2019.

The price of raw materials has decreased during the first four months of the year.

Compostable resins demand has doubled since last year, although starting volumes were quite low.

The first step in the process is product certification. Then follows the homologation process. Once homologation has been obtained, industrial volumes should gradually follow thereafter.

53%Homologation processes with clients in green solutions have increased

since last year

Kompuestos is quoted on the MAB (Spanish alternative market)


27.

On August 12, 2019, Kompuestos went public on the MAB (Mercado Alternativo Bursátil – Spanish Alternative Market).

Kompuestos raised €5.0 million of new money.

Kompuestos was the first company listed on the MAB whose IPO included a secondary tranche, allowing the total divestment of private equity funds:

· Secondary tranche amounted to €5.1 million.

Investors investing in Kompuestos in the IPO included pension funds, medium and small cap funds, sicavs and family offices.

The Board of Directors includes 9 members: · 5 representatives of the main shareholders, 3

independent members and 1 management member.

Share price graph

3.5

2.5

1.5

0.5

Let’s work together.

Plásticos Compuestos S.A.Carrer Basters 15,08184 Palau Solità i PlegamansBarcelona, Spain www.kompuestos.com

© 2020 Plásticos Compuestos S.A. All rights reserved.

This document is the property of Plásticos Compuestos, S.A. (Kompuestos) and has been prepared for information purposes only. This communication contains forward-looking information and statements about Kompuestos. Such information may include financial estimates, statements regarding plans, objectives and expectations in relation to future operations, investments or strategy. Please be advised that the information contained in the forward-looking statements is subject to risks and uncertainties that are difficult to predict and are beyond the control of Kompuestos. Such risks and uncertainties include those identified in the Kompuestos’ Informative Document of Incorporation to the Alternative Stock Market and the Supplement thereto. Except to the extent required by applicable law, Kompuestos does not assume any obligation, even when new information is released or new facts occur, to publicly update statements and information including estimates and/or projections of future events. This document does not constitute an offer or invitation to purchase or subscribe shares. Also, this document does not constitute an offer or solicitation of an offer to buy, sell or exchange securities in any other jurisdiction. The information and forecasts contained in this document have not been verified by any independent third party and therefore their accuracy and completeness is not guaranteed.

Moving towards a sustainable future

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otra informaciÓn relevante plÁsticos ......2020/05/13 · masterbatch market4: - global market of...

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